First Hawaiian, Inc. · NASDAQ:FHB
First Hawaiian — Investor Presentation (February 2026)
27 slides from First Hawaiian's investor presentation, February 2026
Slide 1: Investor Presentation February 2026
Investor Presentation FEBRUARY 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains, and from time-to-time in connection with this presentation our management may make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our vi
Slide 3: Hawaii's Best Bank
Hawaii’s Best Bank Leading capital generation and sustainable returns Leading Hawaii bank, Focused approach to deepen Disciplined execution and Strong capital foundation with an established mainland client relationships and prudent credit risk and high-quality balance sheet presence, delivering leve
Slide 4: First Hawaiian Bank at a Glance
Kauai 49 Oahu Branches First Hawaiian Niihau Molokai Bank at a Glance Honolulu Maui Lanai Saipan Kahoolawe Well-established in Hawaii with over 30 years of presence on the U.S. mainland Hawaii Island Guam Key Highlights1 $24.0B $20.5B $14.3B 1.18% 16.3% 3.9% 13.2% Assets Deposits Loans ACL/total loa
Slide 5: Full-Service Bank With Balanced Portfolios
Full-Service Bank With Balanced Portfolios Strong and Advantaged $21B Deposit Franchise Diversified $14B Loan Portfolio 16% Time 23% 44% Mainland Deposits Consumer 32% Transaction Accounts 21% Money Market 77% 56% Hawaii/ Commercial Guam/Saipan 31% Savings Deeply rooted in Hawaii with an established
Slide 6: Diversified Financial Services and Solutions
Diversified Financial Services and Solutions Market leader in Hawaii, Leading deposit franchise issuing Mastercard cards for with extensive retail and 56 consecutive years commercial reach Credit Deposits Cards Largest merchant Hawaii’s largest lender processor in Hawaii with with diverse financing
Slide 7: Hawaii's Most Profitable Bank
Hawaii's Most Profitable Bank Bank of American Central Hawaii Savings Bank Pacific Bank Loans ($bn) 14.3 14.4 14.1 6.1 5.3 Scale Deposits ($bn) 20.3 20.5 21.2 8.2 6.6 Total Assets ($bn) 24.0 23.8 24.2 9.0 7.4 2025 Net income ($m) 276230 206 (30) 77 Profitability 2025 ROATCE1 16.3% 14.7% 13.6% (4.9%)
Slide 8: Hawaii's Cost-Advantaged Deposit Market
Hawaii’s Cost-Advantaged Deposit Market Total Deposits Costs for Hawaii and U.S. Banks Key Drivers 6.00% Concentrated market, with the top 4 banks holding ~92% of deposits 5.00% 4.00% 4.22% Limited pricing competition and absence of super-regional banks with a 3.00% physical presence, supporting a s
Slide 9: Diversified Economy With Strong Fundamentals
Diversified Economy With Strong Fundamentals Hawaii GDP by Industry1 Visitor spending is ~18% of Hawaii GDP(2) Key Highlights Diversified economy spanning real estate, professional services, healthcare and construction, with growing non-tourism services 9% Resilient real estate and construction 21%
Slide 10: Focused Approach to Deliver Value
Focused Approach to Deliver Value Pursuing disciplined asset growth in Maintaining a strong cost-advantaged high-spread opportunities, leveraging an deposit franchise established presence on the mainland Disciplined credit risk and prudent expense management Rooted in deep relationships and personal
Slide 11: Maintaining Strong, Cost-Advantaged Deposits
Maintaining Strong, Cost-Advantaged Deposits Key Strengths Driving Well-Balanced and Cost-Advantaged Deposits Mix Sustained Leadership with high non-interest-bearing share 3% 1% A market leader in Hawaii, supported by strong Public Public brand and deep relationship banking Time Savings 32.1% deposi
Slide 12: Pursuing Disciplined and Balanced Loan Growth
Pursuing Disciplined and Balanced Loan Growth Focused Growth Opportunities High Quality and Balanced Loan Portfolio Largest Hawaii-based lender, leveraging a leading 7% deposits franchise and strong market presence Consumer Disciplined expansion into higher-spreads markets, including 32% wholesale l
Slide 13: 30+ Years of Proven Success on the Mainland
30+ Years of Proven Mainland Loan Portfolio Focused Success on the Mainland on Commercial Lending 6% Other Tailored solutions in focused verticals: 13% Construction CRE Club deals with selected mainland banks and 50% supporting Hawaii-based customers expanding Commercial business on the mainland, pr
Slide 14: Focused Mainland Presence Drives Future Opportunities
Geographic diversification, with expansion into high-growth western metro areas Focused Mainland Presence Drives Significant expansion potential and growth Future Opportunities Higher risk-adjusted returns California Top States Based Oregon on Commercial Established relationships with regional lende
Slide 15: Committed to Making a Lasting Impact Through Strong Relationships
Committed to Making a Lasting Impact Through Strong Relationships • Powering personalized solutions to support local businesses Creating lasting • Providing financial relief efforts to assist customers during crisis value for customers situations, including Maui wildfires • Supporting professional g
Slide 16: Strong and Consistent Profitability
Strong and Consistent Profitability ROATA1 Key Highlights 1.41% 1.21% Prudent credit decisions with proven through the cycle performance 1.13% 0.97% ROATCE1 Efficient balance sheet management 15.5% 16.3% Demonstrated history of disciplined 15.5% expense management 10.1% 2021 2022 2023 2024 2025 Firs
Slide 17: Robust Asset Quality Through Disciplined Lending
Robust Asset Quality Through Disciplined Lending Allowance for Credit Losses & Coverage Ratio Non-performing Assets Ratio ($ millions) NPAs and 90+ $168 $168 Allowance for 170 $167 1.40% days past due credit losses to 168 $165 1.30% total loans and 0.26% 0.31% to total loans, 166 0.23% including lea
Slide 18: Proven Through-The-Cycle Performance
Proven Through-The-Cycle Performance Net Charge-Offs (NCOs) / Average Loans Non-performing Assets Ratio (NPA + 90 days past due) / (loans + other real estate owned) 1.50% 3.50% 3.00% 2.50% 1.00% 2.00% 1.50% 1.53% 0.50% 0.43% 1.00% 0.21% 0.44% 0.50% 0.25% 0.55% 0.07% 0.16% 0.00% 0.00% '06 '07 '08 '09
Slide 19: Strong Balance Sheet Management Driving Robust Capital Position
Strong Balance Sheet Management Driving Robust Capital Position Key Highlights Capital Position Robust capital position, above 0.5% Public U.S. regulatory requirements Banks with 13.2 % 1.9 % 15.6% $10-$50bn 1 of Assets Strong reserve coverage on a Tier 1 Leverage: 10.6% well-diversified portfolio 1
Slide 20: Leading Capital Allocator Focused on Sustainable Shareholder Returns
Leading Capital Allocator Focused on Sustainable Shareholder Returns Capital Allocation ~$230M Returned to Shareholders in 2025 Priorities Retain sufficient earnings to Dividend Paid Share Repurchase support loan growth and maintain ~57% ~43% strong capital levels Return excess capital through divid
Slide 21: Hawaii's Best Bank
Hawaii’s Best Bank Leading capital generation and sustainable returns Leading Hawaii bank, Focused approach to deepen Disciplined execution and Strong capital foundation with an established mainland client relationships and prudent credit risk and high-quality balance sheet presence, delivering leve
Slide 22: Appendix
Appendix Ae) First Hawaiian, Inc.
Slide 23: Seasoned Management Team
Seasoned Management Team Robert S. Harrison Gina O.W. Anonuevo Alan H. Arizumi Neill A. Char James M. Moses Chairman, Chief Administrative Officer Vice Chair Wealth Vice Chair Retail Banking Chief Financial Officer President and CEO Management and Consumer Products Darlene Blakeney Lea Nakamura Came
Slide 24: Deeply Rooted in Hawaii, With a Strong Track Record on the Mainland
Deeply Rooted in Hawaii, 165+ 30+ With a Strong Track Record years years on the Mainland heritage of mainland in Hawaii experience 1858 1991-1993 1996 2001-2002 2012 TODAY Bishop and Acquired First Acquired 31 branches BNP Paribas becomes Robert S. Harrison Co. founded Interstate Bank of in Oregon,
Slide 25: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights Q4 2025 Q3 2025 Q4 2024 Q4 Highlights Net income $69.9 $73.8 $52.5 Diluted EPS $0.56 $0.59 $0.41 Total loans and lease increased $183 million Net interest margin 3.21% 3.19% 3.03% Efficiency ratio 55.1% 55.3% 65.5% Retail and commercial deposits increased $233 million RO
Slide 26: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation For the Three Months Ended December 31, September 30, December 31, (Dollars in thousands) 2025 2025 2024 Net Income $ 69,931 $ 73,840 $ 52,496 Average Total Stockholders’ Equity $ 2,756,241 $ 2,710,273 $ 2,692,600 Less: Average Goodwill 995,492 995,492 995,492 Average
Slide 27: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation As of and for the Twelve Months Ended December 31, (Dollars in millions) 2025 2024 2023 2022 2021 Net Income $276.3 $ 230.1 $ 235.0 $ 265.7 $ 265.7 Average Total Stockholders’ Equity $2,693.4 $ 2,557.2 $ 2,346.7 $ 2,321.6 $ 2,708.4 Less: Average Goodwill 995.5 995.5 9
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